William,
I still hold 50,000 warrants, I too did the math, with a few corrections.
1. If i convert and sell, I would owe 40% tax. The reason is uncle sam doesn't give you a break. the "stock" not the warrant would have to be held for one year to get a 28%,and a year and a half for the 20%.
2. The purpose of the warrant is control the shares with little or no risk, why should i spend 67,000 to convert,sell,buy back. when this is still a speculative play. I have untill Sept. 28th to exercise, and the 30% to FTEL will be well worth it in sept if this stock does what I think it is going to do. Remember the warrant is a free ride with no risk, but if you convert, your playing with your money.
3. Unlike Mr. Myer., Rb,two others and I put up 10,000 common
shares each to get our warrants, so we have money tied up all
ready. Why risk more?
Vince |
